Printed from https://fyi.org.nz/request/28590-security-trustee-fee-letter on November 22, 2024 06:26

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Security Trustee Fee Letter

Philip McDonald made this Official Information request to New Zealand Local Government Funding Agency Limited

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From: Philip McDonald

Dear New Zealand Local Government Funding Agency Limited,

I note in the LGFA Security Trust Deed, in CL 8.1 it mentions:

"The Company shall pay to the Security Trustee a fee of such amount and payable
on such dates as shall from time to time be agreed in writing by the Company and the
Security Trustee (plus goods and services tax, if any)."

Please can you provide information as to the current fee that is payable from the Company to the Security Trustee on an annual basis and the basis for its calculation?

Yours faithfully,

Philip

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From: Enquiries
New Zealand Local Government Funding Agency Limited

Hi Philip

We pay Trustee Executors an annual fee for supervisory and trustee services.

The fee paid in the 2023-24 financial year was $116,096.71 (GST excl.).

The fees are negotiated every 3 years and are currently set at $118,800 p.a. effective from 1 Nov 2023 to 1 November 2026.

Regards
Mark Butcher
Chief Executive

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